UBS writedowns $1.3billion

A US legal settlement and new write-downs have added more than SFr1 billion ($1.3 billion) to UBS's losses and it expects earnings to be at risk for some time. UBS, Switzerland's biggest bank, posted a 20.9 billion Swiss franc loss for 2008, more...

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Source: www.theaustralian.news.com.au

Major Banks Posting Huge Losses

The nation's banks lost $26.2 billion in the last three months of 2008, the first quarterly deficit in 18 years, as the housing and credit crises escalated. The Federal Deposit Insurance Corp. said.....

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Source: Houston chronicle